Egypt News

 

BP Exits Alaska in $5.6 Bln Sale

Aug 27, 2019

British oil major BP Plc on Tuesday agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co, exiting a region where it operated for 60 years.The deal, which includes interests in the most prolific oil field in U.S. history at Prudhoe Bay, and the 800-mile (1,300-km) Trans Alaska Pipeline, is part of BP's plan to raise $10 billion over the next two years through asset sales to further strengthen its balance sheet…

Oil Price Spike after Saudi Attack Temporary

Sep 16, 2019

The drone attack on the world’s largest oil processing facility, Abqaiq in the heart of Saudi Arabia’s oil industry, forced Saudi Aramco to shut in 5.7 million barrels per day (bpd) of crude production, which equates to 7% of the current global crude and condensate production…

Aramco Suspends 50% of Production

Sep 15, 2019

Saudi Arabia has temporarily halted production at two Aramco oil facilities that were attacked by Yemeni rebels, interrupting about half of the company’s total output.Saudi Aramco said the production of 5.7 million barrels of crude a day had…

Plans for Israeli Gas Exports to Egypt on Track

Sep 09, 2019

Plans to start exporting gas from Israel to Egypt are on track but further steps are still needed before exports can commence, Egyptian petroleum minister Tarek El Molla said on Monday.'Everything is agreed on ... countries (involved) have already given their blessings…

African LNG to Attract $103Bln in 2019

Aug 21, 2019

With greenfield investments in Nigeria, Egypt, Mozambique and elsewhere reaching nearly $103 billion this year, it is clear that liquefaction is viewed as the most profitable strategy for realizing Africa’s gas potential, said Gas Exporting Countries Forum (GECF)…

KNOC Aims to Sell Stake in Dana Petroleum

Jul 30, 2019

State-run Korea National Oil Corp (KNOC) is considering upping the stake it is planning to sell in its British unit Dana Petroleum after failing to lure a buyer for the 30% previously on offer, banking and industry sources said.KNOC had hired…

Suez Canal Accounts for 8% of LNG Trade

Jul 24, 2019

Total oil flows through the Suez Canal and the SUMED pipeline accounted for about 9% of total seaborne traded petroleum in 2017, and LNG flows through the Suez Canal and the SUMED pipeline accounted for about 8% of global LNG trade.'The Suez…

Leviathan Platform Starts Voyage to Israel

Jul 14, 2019

The gas platform for the Leviathan natural gas field is on its way to Israel from the Gulf of Mexico, the partners in the project said on Sunday.The first of four barges transporting the production structure units has left Texas and the other three will set sail in the coming weeks…

Total Takes Over Toshiba's U.S. LNG Biz

Jun 04, 2019

French energy giant Total takes over the liquefied natural gas business of Japanese outfit Toshiba's Freeport LNG train tolling agreement and gains $800 million.The French oil and gas company will is paying $15 million for the shares in the Texan assets…

BP Sells Egypt Assets to Dragon Oil

Jun 03, 2019

BP said on Monday it has agreed to sell its interests in Gulf of Suez oil concessions in Egypt to Dubai-based Dragon Oil, as part of the supermajor’s plan to divest more than $10 billion in global assets over the next two years.Under the terms of the deal…

Eni Names Puliti Chief Upstream Officer

May 31, 2019

Alessandro Puliti has been appointed Eni’s new Chief Upstream Officer, effective September 1, 2019.Puliti will replace Antonio Vella, who will leave the company at the end of the year after a career spanning over more than 30 years.Puliti joined Eni’s Reservoir department in 1990…

Apache's Adjusted Profit Falls

May 01, 2019

U.S. oil and gas producer Apache Corp reported a 69 percent plunge in adjusted quarterly profit on Wednesday, as lower crude and natural gas prices offset higher output from the Permian basin in the United States and the UK North Sea.The Houston…

Petronas Expands LNG Supply

Apr 11, 2019

Malaysian oil and gas company Petroliam Nasional Berhad (Petronas) said that it is well-positioned to meet rising LNG demand and expands its flexible and innovative LNG solutions for existing and new markets.'With its growing portfolio of LNG supply sources in Malaysia…

Lebanon Announces Offshore Blocks

Apr 05, 2019

Lebanon announced on Friday five offshore blocks to be included in its coming bidding round for energy exploration and production licences, including four along disputed maritime borders.Offshore energy development has been a central ambition for successive governments in cash-strapped Lebanon…

DEA Extends Concessions in Egypt

Mar 08, 2019

German oil company DEA Deutsche Erdoel AG has said it has extended its concessions for the Ras Budran and Zeit Bay oil fields in the Gulf of Suez, offshore Egypt. DEA’s General Manager Sameh Sabry signed the new concession agreement. The new…

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Petronas Q2 Profit Rises 8%

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Saudi Aramco Pursues IPO Planning Despite Attack

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Middle East Risks Keep Oil Prices High

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Transborders Joins Forces with Osaka Gas

BP Awards Caspian ACG Contracts

BP Awards Caspian ACG Contracts

Senvion to Sell Assets to Siemens Gamesa

Senvion to Sell Assets to Siemens Gamesa

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